Market rallies as tech and chip stocks lead the way.

US stocks continued to rise on Thursday, with the S&P 500 up 0.6% and the Dow Jones Industrial Average up 0.5%. The Nasdaq Composite gained 0.7%. Bond yields also rose, with the benchmark 10-year US Treasury note up to 3.85%. The VIX moved below 20, indicating that volatility has stabilized. Intel stock surged more than 7% after the company announced that its new server chips will come sooner than anticipated. The Federal Reserve's top banking regulator, Michael Barr, signaled that the central bank intends to maintain its stance on rates. The number of people filing unemployment claims rose to 198,000, up 7,000 from the prior week.